Just-Eat and online delivery rival Takeaway.com have said they have agreed in principle to create one of the largest players in the sector globally through an €9.1 billion all-share deal.
Shareholders in London-listed Just-Eat will receive 0.09744 Takeaway.com shares for each of share, implying a value of 731 pence per Just-Eat share, a 15% premium to the closing price on Friday.
Just-Eat and Amsterdam-based Takeaway.com said they were in talks on Saturday.
Just-Eat shareholders would own about 52.2% of the combined group, which together had 360 million orders worth €7.bn in 2018, the companies said.
The combined companies will take leadership positions in many of the world's largest food delivery markets, including the UK, Germany, the Netherlands and Canada, they said.
Just-Eat is also a major player in the Irish market.
Just-Eat chairman Mike Evans will chair the combine group, while Takeway.com chief executive Jitse Groen will assume the role of CEO at the company, which will be incorporated, headquartered and domiciled in Amsterdam, the companies said.